Pinsters - WHEN will YOU consider buying?

I’d be most interested to hear Pinsters’ views on WHEN they might consider buying…6 months, 12 months time, when X happens, when price = X times rent etc etc etc.

Also, there are factors other than price that could influence a purchasing decision, eg career move, family etc. and waiting can be a bit frustrating.

So come on Pinsters, lets hear your views and it would be helpful if you could say WHY you think X DATE would be a good time.

Thanks folks :slight_smile:

Edit: This question refers to the ***PROPERTY MARKET ***not the stock market!!!

In theory, probably another 12-18 months, but potentially revised out further depending on developments up to then.

In practice - when the boss said.

The minute after SkyNet becomes self aware.

When rent can pay off the interest on a 100% mortgage with enough left over to cover vacant periods, maintainence and other expenses.

I would buy tomorrow, so long as the price is at least 40% below asking…

Interesting question.

The short answer is that I will buy when my personal circumstances and market conditions are such that it makes sense for me to buy.

Right now, I am nowhere near that position in either case. Although I am in full employment I don’t know for sure how secure my job will be if the proverbial really hits the fan. Also, I have no idea if I’m going to stay in Ireland in the next 5 - 10 years. Prices, as has been well articulated on this site, are still crazy and will probably drop another 50%, if not more, over the next number of years.

If I was in a position where I could see myself living in an area for lets say 10 years plus, if prices are in or around what I consider the historical norm (3.5x average salary + 20% deposit or 14x annual rents), and I was in secure employment, then I would smell around for a pad of my own.

However I feel under no pressure to buy, and am in absolutely no rush to saddle myself with a large debt obligation like a mortgage. How this affects me now is more in terms of if I decide to be thrifty and scrimp and save for a potential deposit. After all, I have a life to live right now too.

Realistically it is going to be another 12 to 18 months but prices have to fall or I’ll will just continue to rent.

When I can get the house I want at a price I am prepared to pay.

So quite a bit of waiting to be done.

All this depends on keeping my job of course.

Sums it up really.

I’ll probably rent indefinitely

Many on here believe Dr Kelly’s prediction of an 80% fall from the peak valuations of 2006 so in other words an awful long wait for something that will never happen,after paying probably ten or more years dead money in rent they will have to swallow very large portions of humble pie and buy a house for not much less than they could have bought sometime over the next couple of years.Some might never buy,always thinking the elusive crash will provide them the house of their dreams for a fraction of its current price,resulting in a lifetime of living in rented property.Who knows?

Why doesn’t someone start a thread asking for a time limit on the 80% fall?,that way then at least a few of the less informed readers of these boards might then start to think for themselves and realise that not everything predicted on here will turn out to be true.

Sod it I’LL start the 80% thread!

When I need to own property and somewhere that satisfies my criteria for value is available.

An alternative criteria for the Irish market might be: When the dwelling is likely to outlive the mortgage needed to pay for it.

When I can build the type of structure I want as there is nothing ready made that I feel is of real use or quality in Ireland with selling your soul for it will probably never come to pass so I may have to look elsewhere.

Renting so long now the idea of being stuck immobile is horrifying especially in these uncertain times.

We are not all closet buyers in the 30yr age bracket living at home with Mammy :smiling_imp:

When its yielding around 7%. Such a long way to go, I’ve ignored it.

Much of the stock market is already there though. By the middle of this year, I expect to have the majority of my personal wealth in stocks.

True, some of us prefer built in wardrobes! :wink:

:open_mouth: :open_mouth: :open_mouth:

Flash,maybe you want to take a trip over to the scary chart page and look at the charts I posted the other day before commiting any more of your hard earned…

When I can get a good place I wouldn’t mind living in for 10 years for 3 times salary and a 20% deposit. Or when I win the lotto.

Too late. 8)

It’s all about relative strength for me. There is some crazy value out there and some shares are holding up very well. Those folks concentrating on the wider indices often miss this point. I honestly believe we will look back in a few years time and won’t believe the quality companies that were available on P/Es of less than 5. Some companies are selling below cash per share, such is the fear out there.

But hey, I know I’m in the minority (especially on this site 8DD ), but I was shouted down by all and sundry back in 2004, when I sold out of “overvalued” property.

The stock market may well go down further in the short term, but I play a long game. I don’t buy in the bottom or sell out at the top. I want the meat in the middle and I’m prepared to wait to get it.

Good luck to all.

P.S. Is there anyone else a tincey, wincey bit bullish on (some) stocks or have I finally lost it?

What’s a quality company in your estimation?!?

Flash,I hope you know what you are doing, but the trend as they say is your friend (until the bend at the end!).